A brief history of Madison Square

Madison Square was founded in 1870 as a building society, or bausparverein, as it was called in the predominantly German neighborhoods it first served. At a time when banks focused on commercial customers, Madison Square, like other building societies, helped people achieve home ownership by promoting thrift, pooling resources and lending wisely. Good service, independence and stability made these societies successful, and mutual savings banks and savings associations, as they are called today, stand for the same traditional values.

The name Madison Square comes from the public square adjacent to the bank’s original location at 1312 East Eager Street. Since then the bank has moved and grown. In 1985, it became a member of the Federal Home Loan Bank and obtained federal insurance for its savings accounts. In 1986, it received a Federal Charter and officially became known as Madison Square Federal Savings Bank. Madison Square now has three customer service centers and an Administrative Office located along the Belair Road corridor.

Still making dreams come true, the Madison Square of today combines the traditional values of the building society with the knowledge and experience gained from over 135 years of banking success.

Using Our Past To Help Build Your Future

Est. 1870 * Member FDIC * Equal Opportunity Lender * Equal Housing Lender